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Acquired Loans and Covered Loans
 12 Months Ended
Dec. 31, 2014
Acquired Loans [Abstract]  
Acquired Loans
ACQUIRED AND COVERED LOANS
Acquired loans consist primarily of loans that were acquired in business combinations that are not covered by the FDIC Agreements. These loans are included in loans, excluding covered loans, in the Consolidated Statements of Financial Condition. Covered loans consist of loans acquired by the Company in multiple FDIC-assisted transactions. Most loans and OREO acquired in those transactions are covered by the FDIC Agreements. The significant accounting policies related to acquired and covered loans, which are classified as PCI and Non-PCI, and the related FDIC indemnification asset are presented in Note 1, "Summary of Significant Accounting Policies."
Effective January 1, 2015, the losses on non-residential mortgage loans and OREO related to one FDIC-assisted transaction will no longer be covered under the FDIC Agreements. These non-residential loans and OREO totaled $10.1 million at December 31, 2014. The losses on residential mortgage loans and OREO will continue to be covered under the FDIC Agreements through December 31, 2019. Losses related to non-residential mortgage loans and OREO in two other FDIC-assisted transactions will no longer be covered under the FDIC Agreements effective on July 1, 2015 and October 1, 2015, and residential mortgage loans and OREO will continue to be covered through June 30, 2020 and September 30, 2020.
The following table presents PCI and Non-PCI loans as of December 31, 2014 and 2013.
Acquired and Covered Loans
(Dollar amounts in thousands)
 
 
As of December 31,
 
 
2014
 
2013
 
 
PCI
 
Non-PCI
 
Total
 
PCI
 
Non-PCI
 
Total
Acquired loans
 
$
28,712

 
$
714,836

 
$
743,548

 
$
15,608

 
$
17,024

 
$
32,632

Covered loans
 
54,682

 
24,753

 
79,435

 
103,525

 
30,830

 
134,355

Total acquired and covered loans
 
$
83,394

 
$
739,589

 
$
822,983

 
$
119,133

 
$
47,854

 
$
166,987


In connection with the FDIC Agreements, the Company recorded an indemnification asset. To maintain eligibility for the loss share reimbursement, the Company is required to follow certain servicing procedures as specified in the FDIC Agreements. The Company was in compliance with those requirements as of December 31, 2014, 2013, and 2012.
A rollforward of the carrying value of the FDIC indemnification asset for the years ended December 31, 2014, 2013, and 2012 is presented in the following table.
Changes in the FDIC Indemnification Asset
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2014
 
2013
 
2012
Beginning balance
 
$
16,585

 
$
37,051

 
$
65,609

Amortization
 
(3,315
)
 
(2,984
)
 
(14,098
)
Change in expected reimbursements from the FDIC for changes in
  expected credit losses
 
(481
)
 
(1,242
)
 
3,338

Payments received from the FDIC
 
(4,337
)
 
(16,240
)
 
(17,798
)
Ending balance
 
$
8,452

 
$
16,585

 
$
37,051


Changes in the accretable yield for acquired and covered PCI loans were as follows.
Changes in Accretable Yield
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2014
 
2013
 
2012
Beginning balance
 
$
36,792

 
$
51,498

 
$
52,147

Additions
 
3,517

 
—

 
7,224

Accretion
 
(12,535
)
 
(15,016
)
 
(20,632
)
Other (1)
 
470

 
310

 
12,759

Ending balance
 
$
28,244

 
$
36,792

 
$
51,498


(1) 
Increases represent a rise in the expected future cash flows to be collected over the remaining estimated life of the underlying portfolio.